SFP/USDT 1D. Basic trend. Local situation. Channel.
In the basic trend of the coin a downtrend channel has formed. The price is now near the medium of that channel.
In the secondary trend we have pumps from time to time. From the last pump a downtrendline has formed in the secondary trend.
In was broke out and retested. Shown on the chart. From that breakout a symmetrical triangle started to form. The basis of it is 180%(666).
The price locally is near the support of that symmetrical triangle. Locally it's in consolidation for more than a month with buy outs time to time.
The nearest local target is the resistance of that triangle(near 40%). The more medium term target is about 180% which lays on the top of the basic trend channel(downward one), the top of the secondary trend up channel and it's also the target of the secondary downtrend(which was broken previously).
With this coin also it's brother TWT might move, but the cap of the last one is slightly higher than the SFP.
Also i guess it's worth to notice that there was a manipulation with the capitalization of SFP. It raised more than 3x, while the priced hasn't moved that much.
You can check it on the coinmarketcap on the page SFP, by clicking market cap near the chart.
With TWT, however there's no such thing happening, but there is abnormal capitalization from the start of the trading pair on binance(huge pump before listing).
Time cycles also tell us that there's a pump possible closer to 14-16 april.
I attached my ideas on ru language. It's on TWT and SFP.
In the secondary trend we have pumps from time to time. From the last pump a downtrendline has formed in the secondary trend.
In was broke out and retested. Shown on the chart. From that breakout a symmetrical triangle started to form. The basis of it is 180%(666).
The price locally is near the support of that symmetrical triangle. Locally it's in consolidation for more than a month with buy outs time to time.
The nearest local target is the resistance of that triangle(near 40%). The more medium term target is about 180% which lays on the top of the basic trend channel(downward one), the top of the secondary trend up channel and it's also the target of the secondary downtrend(which was broken previously).
With this coin also it's brother TWT might move, but the cap of the last one is slightly higher than the SFP.
Also i guess it's worth to notice that there was a manipulation with the capitalization of SFP. It raised more than 3x, while the priced hasn't moved that much.
You can check it on the coinmarketcap on the page SFP, by clicking market cap near the chart.
With TWT, however there's no such thing happening, but there is abnormal capitalization from the start of the trading pair on binance(huge pump before listing).
Time cycles also tell us that there's a pump possible closer to 14-16 april.
I attached my ideas on ru language. It's on TWT and SFP.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.